News Update

India-bound oil tanker struck by Houthi’s missiles in Red SeaRBI issues draft rules on digital lendingCRPF senior official served notice of dismissal on charges of sexual harassmentColumbia faculty blames leadership for police action against protestersGoogle to inject USD 3 bn investment in data centre in IndianaUN says clearing Gaza mounds of rubble to take 14 yrsBlinken says China trying to interfere US Presidential pollsWorld Energy Congress 2024: IREDA CMD highlights need for Innovative Financing SolutionsVoter turnout surpasses 50% by 4 PM in Phase 2 pollsXI tells Blinken - China, US ought to be partners, not rivalsST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITAT
 
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Chennai, August 19, 2013
I-T - Whether when assessee's return was not yet due on date of search, Revenue is justified to initiate penalty as assessee's return was filed subsequent to search - NO: Madras HC
 
Mumbai, August 19, 2013
CX - s. 2(f) - Although Appellant cannot be considered as manufacturer, there is no dispute that duty on 'final product' has been paid and Revenue has not objected - Credit availed cannot be demanded: CESTAT
 
Mumbai, August 19, 2013
ST - Shifting of raw material or cleaning factory premises, by no stretch of imagination, can be considered as job work, so as to be eligible for benefit of Notfn. No 08/2005 - appellant's submission lacks merit - Pre-deposit ordered: CESTAT
 
New Delhi, August 18, 2013
FM unveils National Skill Certification and Monetary Reward Scheme; targets 1 mn people
 
New York, August 18, 2013
9 countries accord high political visibility to sanitation and water for all: UN-backed Report
 
Chennai, August 16, 2013
I-T - Whether when land is given to assessee as part performance of his services rendered to his client but not in capacity of an Advocate, even then such receipt is to be taxed as professional income - NO: Madras HC
 
Mumbai, August 16, 2013
Cus - Import of coal from Indonesia - whether simultaneous benefit of Notification No.46/2011 and No.12/2012 is available - respondent instruct to permit petitioner to avail of benefits subject petitioner giving BG for 20% of differential duty and bond for balance amount: Bombay HC
 
Mumbai, August 16, 2013
ST - In view of specific exclusion of 'railways' from 'Commercial construction service', question of imposing ST on construction of viaduct and stations for Delhi Metro does not arise at all - there is no distinction between a monorail or metro rail - appeal allowed: CESTAT
 
Chandigarh, August 16, 2013
Curbing Central Excise duty evasion: Rohtak Commissionerate's latest case reveals interesting trend in clandestine removal
 
New Delhi, August 15, 2013
MoU with China - Indian generic drugs to get access to Chinese market, says Minister
 
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